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4Q 2021 Earnings Presentation – Hess Corp

Hess Corp · Feb 4, 2022 · 28 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 4Q 2021 Earnings Presentation – Hess Corp – slide 1
    Supplemental Earnings Information Fourth Quarter 2021
  2. 4Q 2021 Earnings Presentation – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. 4Q 2021 Earnings Presentation – Hess Corp – slide 3
    Reported Net Income (Loss), Items Affecting Comparability & Adjusted Net Income (Loss) by Operating Activity In Millions, Except Per Share Data 4Q 4Q 3Q 2021 2020 2021 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. 4Q 2021 Earnings Presentation – Hess Corp – slide 4
    Reported Net Income (Loss), Items Affecting Comparability & Adjusted Net Income (Loss) by Operating Activity (Contd) In Millions, Except Per Share Data 4Q 4Q 3Q 2021 2020 2021 Adjusted Net Income (Loss)* Exploration and Production 309…
  5. 4Q 2021 Earnings Presentation – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts, After Income Taxes) 4Q 2020 Exploration and Production Results included: A gain of 79 million associated with the sale of the Corporations 28% working interest in the…
  6. 4Q 2021 Earnings Presentation – Hess Corp – slide 6
    Consolidated Adjusted Net Income (Loss) In Millions 4Q 2021 vs. 4Q 2020 4Q 2021 vs. 3Q 2021 325 325 12 2 265 6 265 427 13 160 250 250 175 175 100 100 86 25 (176) 25 (50) (50) (125) (125) (200) (200) 4Q 2020…
  7. 4Q 2021 Earnings Presentation – Hess Corp – slide 7
    Analysis of Consolidated Adjusted Net Income (Loss) 4Q 2021 vs. 4Q 2020 Exploration and Production The improvement in results is primarily due to higher realized selling prices in the fourth quarter of 2021. Midstream The increase in…
  8. 4Q 2021 Earnings Presentation – Hess Corp – slide 8
    Exploration and Production Adjusted Net Income (Loss) In Millions 4Q 2021 vs. 4Q 2020 4Q 2021 vs. 3Q 2021 475 475 425 425 158 (43) 375 375 (10) (44) 432 (45) (4) 325 91 5 309 325 309 (66) 275 275 103 225 10 225 175 175 149 125…
  9. 4Q 2021 Earnings Presentation – Hess Corp – slide 9
    Midstream Adjusted Net Income In Millions 4Q 2021 vs. 4Q 2020 4Q 2021 vs. 3Q 2021 130 130 120 0 120 48 (7) 110 (4) 110 31 (3) (4) (3) 100 (21) 100 (2) (21) 90 90 80 74 80 11 74 70 62 70 61 60 60 50 50 40 40 30 30 20 20…
  10. 4Q 2021 Earnings Presentation – Hess Corp – slide 10
    Worldwide Oil & Gas Production In MBOEPD 4Q 2021 vs. 4Q 2020 4Q 2021 vs. 3Q 2021 400 400 360 360 321 (23) 316 16 316 10 3 (1) 320 14 5 320 284 18 (1) 12 21 21 280 280 3 19 240 240 200 200 160 160 295 295 295 262 120…
  11. 4Q 2021 Earnings Presentation – Hess Corp – slide 11
    Capital and Exploratory Expenditures In Millions 4Q 2021 vs. 4Q 2020 700 Three Months Ended 650 December 31, 54 600 2021 2020 550 100 E&P Capital and Exploratory Expenditures 500 United States North Dakota 153 72 450…
  12. 4Q 2021 Earnings Presentation – Hess Corp – slide 12
    Capital and Exploratory Expenditures (Contd) In Millions 4Q 2021 YTD vs. 4Q 2020 YTD 2,100 Year Ended 1,950 183 December 31, 253 1,800 2021 2020 1,650 376 282 E&P Capital and Exploratory Expenditures United States 1,500…
  13. 4Q 2021 Earnings Presentation – Hess Corp – slide 13
    FINANCIAL INFORMATION 12
  14. 4Q 2021 Earnings Presentation – Hess Corp – slide 14
    Consolidating Income Statement 4Q 2021 In Millions, Except Unit Costs Data Three Months Ended December 31, 2021 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D…
  15. 4Q 2021 Earnings Presentation – Hess Corp – slide 15
    Consolidating Income Statement 4Q 2020 In Millions, Except Unit Costs Data Three Months Ended December 31, 2020 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D…
  16. 4Q 2021 Earnings Presentation – Hess Corp – slide 16
    Consolidating Income Statement 4Q 2021 YTD In Millions, Except Unit Costs Data Year Ended December 31, 2021 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenues…
  17. 4Q 2021 Earnings Presentation – Hess Corp – slide 17
    Consolidating Income Statement 4Q 2020 YTD In Millions, Except Unit Costs Data Year Ended December 31, 2020 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenues…
  18. 4Q 2021 Earnings Presentation – Hess Corp – slide 18
    OTHER INFORMATION 17
  19. 4Q 2021 Earnings Presentation – Hess Corp – slide 19
    2022 Guidance to Investors (1) GUIDANCE Full Year 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total - excluding Libya 330 - 340 275 - 285 Bakken 165 - 170 155 - 160 Guyana 65 - 70 25 - 30 (2) Unit Cost -…
  20. 4Q 2021 Earnings Presentation – Hess Corp – slide 20
    Q4 2021: Net Hess Cash Outflow Bakken Net Production Q4 2021 Bakken Net Production (MBOEPD) 159 Bakken Net Production (MMBOE) 14.6 Midstream Tariffs on Hess Net Production Millions /BOE Description: Midstream Segment Revenue (1)…
  21. 4Q 2021 Earnings Presentation – Hess Corp – slide 21
    BAKKEN OPERATIONAL DATA 20
  22. 4Q 2021 Earnings Presentation – Hess Corp – slide 22
    Bakken Production - 2021 Net Production by Product 2021 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 80 79 78 79 84 NGL MBBLPD 49 52 44 52 49 Gas MMCFPD 162 170 158 167 151 (1) Total MBOEPD 156 159 148 159 158 Net Production by Operatorship…
  23. 4Q 2021 Earnings Presentation – Hess Corp – slide 23
    Bakken Production - 2020 Net Production by Product 2020 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 107 97 108 108 114 NGL MBBLPD 56 61 58 57 49 Gas MMCFPD 180 185 194 177 162 (1) Total MBOEPD 193 189 198 194 190 Net Production by…
  24. 4Q 2021 Earnings Presentation – Hess Corp – slide 24
    Bakken Operational Well Statistics - 2021 Hess Operated Wells 2021 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 2 3 2 2 2 Drilling Days Spud-to-Spud 12 12 11 11 14 2021 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 63 17 18…
  25. 4Q 2021 Earnings Presentation – Hess Corp – slide 25
    Bakken Operational Well Statistics - 2020 Hess Operated Wells 2020 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 3 1 1 2 6 Drilling Days Spud-to-Spud 12 12 11 11 12 2020 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 71 7 6 17…
  26. 4Q 2021 Earnings Presentation – Hess Corp – slide 26
    Hess Operated Bakken Wells Brought on Production by County and Formation Bakken Wells 50 McKenzie_3F McKenzie_MB Mountrail_3F 45 Mountrail_MB Williams_3F Williams_MB 40 8 35 12 30 4 25 5 3 14 20 2 5 7 15 9 1 7 6 3…
  27. 4Q 2021 Earnings Presentation – Hess Corp – slide 27
    Bakken Well Costs, Working Interest and Acreage - 2021 Average Well Cost - Hess Operated 2021 YTD Avg 4Q 3Q 2Q 1Q Drilling MM/Well 2.4 2.4 2.4 2.3 2.5 Completion MM/Well 3.4 3.4 3.3 3.3 3.4 Total MM/Well 5.8 5.8 5.7 5.6 5.9…
  28. 4Q 2021 Earnings Presentation – Hess Corp – slide 28
    Bakken Well Costs, Working Interest and Acreage - 2020 Average Well Cost - Hess Operated 2020 YTD Avg 4Q 3Q 2Q 1Q Drilling MM/Well 2.4 2.2 2.3 2.4 2.4 Completion MM/Well 3.8 3.5 3.6 3.6 4.0 Total MM/Well 6.2 5.7 5.9 6.0 6.4…

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